The Sa Wasteland

[craig R33]

lucky 18 yo lol

[rhys5169]

I've got a story that happened to a couple mates when we were 18.

2 mates.. One going out with this girl. We all went around to her place as her mum was having some party/gathering.. In short the other mate hooked up with the 40yo mum and she fell pregnant. His parents were asking to meet the mum of their grandchild.. Quite funny times.

Later another mate hooked up with the mums friend purely for 'experience/learning' reasons. But bugger that they were cops to put it politely. Don't know how they did it.

All occurred down south. I guess thats enough said. lol

bahahahahaha

[pokie]

I can see where you're coming from Craig and at the end of the day you are right but this guy is obviously pretty young and stupid so logic doesn't always come into play. I'd have to +1 with Cubes advice cause if you back the kid into a corner he'll either do a runner or hang around for the wrong reasons.........then it's FTL in both instances.

he's 21yo aswel, 3wks older than me

Edited September 13, 2008 by pokie

[SLED]

I've got a story that happened to a couple mates when we were 18.

2 mates.. One going out with this girl. We all went around to her place as her mum was having some party/gathering.. In short the other mate hooked up with the 40yo mum and she fell pregnant. His parents were asking to meet the mum of their grandchild.. Quite funny times.

Later another mate hooked up with the mums friend purely for 'experience/learning' reasons. But bugger that they were cops to put it politely. Don't know how they did it.

All occurred down south. I guess thats enough said. lol

lol at southern hillbillies, jump at anything that moves..............ohh, I'm a southy too!

As far as pregnant Bob is concerned, the day my missus can

more than me will be the day I opt for artificial insemination.

[Inline 6]

cubes you sure you just wernt all high while watching jerry springer

musta been a milf

Edited September 13, 2008 by Inline 6

[Cubes]

Definitely no milf. They were shockers.

But I guess, any holes a goal as the saying goes. Clearly was the case for them lol

Example picture attached. lmao

The friend of the mum was as bad as this without a lie.

[kralster]

beacause we cant live in our unit forever, karl.

its a hard decision to make hey sam...wasnt easy, but its really short term loss, for long term gain

well im trying to stay positive lol

Ok so it won't be "another" house it will be the only house you have?

One of my pet peeves is people with investment properties.

[Cubes]

Why would that be Mr VHR?

[typevu]

I've got a story that happened to a couple mates when we were 18.

2 mates.. One going out with this girl. We all went around to her place as her mum was having some party/gathering.. In short the other mate hooked up with the 40yo mum and she fell pregnant. His parents were asking to meet the mum of their grandchild.. Quite funny times.

Later another mate hooked up with the mums friend purely for 'experience/learning' reasons. But bugger that they were cops to put it politely. Don't know how they did it.

All occurred down south. I guess thats enough said. lol

oh god that is like disgusting but hilarious at the same time

[Dohmar]

Why would that be Mr VHR?

Maybe cause folks with income properties are taking advantage of a stupid government law making the income exempt from stamp duty or something like that. They get the profit which is all cool (and I would do it myself in a heartbeat) but its the govt law in regards to tax on investment property that is fuelling the affordible housing crisis. Just not as many being sold, and many people opting to invest into real estate because its generally safer than stocks... I dont think the investment is bad, but the laws are inadvertently making properties more expensive. An accountant friend of mine explained it to me a couple weeks ago. I'm probably getting a key details wrong, but it made sense at the time. Hehe.

-D

[Cubes]

Thanks.. I have NFI with regards to property which is why I asked for clarification.

[kralster]

Yes i'm all for people making investments and setting their futures up, but in doing so prices have gone up, and make it unaffordable for most people nowadays to own their own home.

I make well above the average income in South Australia. I make a touch over 50,000 a year, but there is no way I can afford a house. So I don't see how the people who are less fortunete then me could ever do it. With my earnings and having bills that total to maybe 3-400 a month the most i can afford to borrow is around the 200 - 220 thousand. Try and buy any sort of home for that amount.

Sure i could buy a house in Aldinga and then drive an hour to work each day but with petrol being $1.50+ a litre any savings in the house price will be more than gone wth commuting. Then i have food, rates, electricity, etc, etc it is impossible without a partner. Which i'd love to have but don't see happening anytime soon.

And then with these tax concesions like dohmar pointed out it means the rich get richer, and the poor (or in my case the above average) get poorer and poorer.

[Nightcrawler]

Nah bollocks, Ben has it wrong - you have to pay income tax on investment property income just like any other income. Yes, you have deductions for interest and costs, but a the end of the day you pay tax like any other income. In fact, when you own a home for investment you generally get a worse interest rate (as it is a commercial style loan), pay higher water/land etc rates (as it is income-producing), etc etc. Imagine if no-one bought investment properties Karl - who would there be for people to rent from? We already have a MASSIVE rental housing crisis is SA (to be exacerbated in 2009 with a larger influx of immigrants) and if people did not buy rental properties there would simply be NO houses for these people to rent. As you pointed out, not everyone has the income to pay off a home loan - for many even a loan of $200k would be simply impossible to service.

The plain and simple reason for the property market going up is people's greed. They borrow more and more and more money, only to bid property prices up higher and higher. That is when a prudent investor waits for the market to crash a bit, then moves in and buys properties at the right prices (muahahahahaha rubs hands together), as MIPs become more and more common (currently 20 a week in Adelaide alone atm).

[SLED]

anyone on over $50K a year that is serious about buying a home can save $20 to $30k as a deposit which when added to the $220K that a bank is offering, makes for a nice 2 bedroom unit within a 10 or 15km radius of the CBD. If you can't afford a house, buy a unit or small townhouse, you have to start somewhere and build some equity.

Housing has been relatively unaffordable in Adelaide for only the past 4 or 5 years.....go to Sydney and compare their income to housing prices and you'll see that their housing has been unaffordable for the last 30 years....there are still plenty of opportunities here.

As Nightcrawler said, the vacancy rates are extremely low in Adelaide so we do need more investors putting rentals on the market and less greedy agents inflating the housing market unnecessarily with their dutch style auctions (like they did between 2001 & 2004) until REISA put the clamps on them with new laws and shut them down before doing anymore damage.

[Inline 6]

thats pretty deep sled for a past midnight post

[kralster]

What a stupid way to justify it. If housing were affordable more people could buy their own homes instead of being trapped into renting.

A guy at work has a very nice house he has owned for about 6 years now. It's 4 bedroom, ensuite, formal dining, lounge, family room, etc, etc so it's not small. His mortgage is $600 per month, and now the house is worth close to 400,000.

Most of my mates are paying 250 - 300 RENT for shitty horrible houses. Thats at least a grand a month, now you can't tell me thats not f**ked.

And like nightcrawler said my biggest issue is peoples f**king greed when it comes to owning more than one house, you can only live in one.

Edited September 14, 2008 by kralster

[Ryanrb25]

600 a month mortgage...f**k thats cheap.

[craig R33]

Ok so it won't be "another" house it will be the only house you have?

One of my pet peeves is people with investment properties.

yes it will be ''another'' house

the unit is an investment

gotta start somewhere...

Edited September 14, 2008 by craig R33

[Sambo33]

my biggest issue is peoples f**king greed when it comes to owning more than one house, you can only live in one.

thats life mate. my dad owns a heap of property because he saved hard when he was young and invested wisely.

im currently renting, and own no houses. do i think my dad is greedy? no. just smart.

[craig R33]

well said sam.

some people are always going to be smarter with there money.

its just the way it is.